These wall street bets kids represent an existential threat to wall st

It has dawned on me that the reddit kids that are bidding up gamestop are an credible existential threat to wall st.  I really didn't get it before but I've gone over to reddit and now I understand their viewpoint.  They don't think gamestop is worth $500 per share.  They are not stupid.  All they know is that "the man" has left his ass exposed by getting too greedy and trying to sell gamestop into the dirt before its time.  In addition, while they want to make money, there is a clear vein of nonviolent radicalism and social activism that is extremely valid.  They want to use the corrupt system to beat the system.  And I think they now have the tools to do it:

• social media
• basic economic understanding about value and scarcity (which many learned from Ron Paul)
  
• low cost market access
• a herd that cares more about social justice 
  

This emergency response that robinhood did by limiting purchases for small investors while leaving no limits for institutions is completely corrupt and the kids are doing a pretty good job of pleading their case in public.  Texas AG Ken Paxton has just launched an investigation.  When dems and gops were all getting along at the expense of the people then none of this crap would ever get a fair shake in court. Dems and GOPS would make a big public show of opposition but then they would all go out and have a beer together and laugh about it.

But reddit kids are shaking things up and giving politicians who want to bolster public support for conservatism (mainly because they are scared that the balance of power has been lost to the dems) an opportunity to grandstand and to appear righteous.

I think future history will realize that Bitcoin was just the first act of economic civil disobedience.  It was the kids saying "we know we are getting screwed by the existing system so we want to start our own parallel wealth storage system".  It has been very successful to the point where wall st is now following their lead on Bitcoin and even countries are making their own central bank digital currencies.  If the kids aren't clever the establishment sharks will beat them at their own game.  They will take over digital currencies and then explain how bitcoin and other non government coins are really just for drug runners and terrorists.  With the swipe of a pen they could be made illegal.

But right now there is no doubt, bitcoin has created some young billionaires and many young millionaires.  And the gamestop thing has created some more millionaires.  We know it is hurting wall st because they are moving the goal posts and changing the rules - that is a sign of panic, not strength.

The absolutely correct next move for these kids would be to focus their firepower on platinum NOT silver.  If platinum goes up hugely, silver will certainly follow.  Folks, platinum Eagles are legal US tender.  The government cannot credibly attack these physical monetary wealth tokens as being something for terrorists and drug runners.  If they tried they would be the laughing stock.  And with only 10 billion market cap of above ground platinum they could bid it up 65x and still not exceed the market cap of bitcoin.  And, as mentioned before, bitcoin has 18 million coins in circulation right now but platinum only has 8 million refined ounces above ground and it would be VERY difficult to dig up more cost effectively in order to meet sudden overwhelming demand.

The old guard will laugh at this notion and say platinum isn't worth that much because it doesn't have enough industrial demand to support it.  But these kids aren't playing by wall st rules.  Does bitcoin have any industrial demand??  NO!  It's not even a real thing. Nobody has ever seen or touched or held a bitcoin.  The kids say it has value because it is scarce.  That's all.  Nothing else.  And since its their money, who can argue?  Wealthy people pay huge bucks for shitty ugly paintings all the time.  Why?  Because they have the money and they want to spend it like that.  This is free choice in action

Finally, I want to point out what is funding all these recent reddit attacks.  It's the free currency that kids are getting from government.  By trying to buy their votes, the liberals are financing the downfall of the system that supports them.  By trying to control people with fake money the establishment is speeding the collapse of fake money.  This is the reason that unstable nonlinear systems as Jim Rickards always teaches are unpredictable.